BBVA Confirms in Talks to Sell Spain Real-Estate Business to Cerberus

Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA.MC) said Thursday it is in talks regarding the potential sale of its Spanish real-estate business to New York-based Cerberus Capital Management LP (CRP.XX).

BBVA said it wasn't certain negotiations would lead to a deal.

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The bank said it was responding to press speculation about a potential deal involving real-estate. Over the past week several Spanish news outlets have reported that a deal was in the works.